CIB F&BM - Fixed Income Financing P&L and Risk Product Control Associate

London, England, United Kingdom
22 Oct 2018
25 Oct 2018
Contract type
Full time
CIB F&BM - Fixed Income Financing P&L and Risk Product Control Associate London

Department Description

The Fixed Income Financing (FIF) Product Control team is responsible for supporting the EMEA FIF business. The business acts as a market maker, providing secured financing or collateral to ~1000 clients across a diverse client base including Banks, Broker/ Dealers, Hedge Funds, Asset Managers, etc. The desk also provides a critical internal utility function in managing funding and liquidity by funding long and short positions for IB Fixed Income desks. Globally, the business is the #1 player with a product offering including sovereigns, corporates, MBS's, structured financings (>1 yr), and emerging markets financing.

This is a role in the Product Control (PC) team suitable for a candidate looking for a platform to learn about a business in depth and work closely with the business to provide a strong control environment. The right candidate is keen to learn and take ownership of processes in a role which will provide growth further their career, as well as provide a broad range of skills and opportunity to learn about both P&L and Balance Sheet if they are interested. The role involves both daily BAU as well as managing projects.

Key responsibilities:

  • Production of daily T+1 P&L and P&L sign-off, including substantiation through comparison to trader predicts, current risk and market moves.
  • Analytical review of the P&L to explain drivers of the P&L movement and understand P&L explain categories.
  • Ensure that the team is in compliance with the P&L and Risk minimum standards, and support projects to improve and enhance the control environment.
  • Reporting daily Risk and obtaining sign-off via the Risk Aggregator. Support projects on risk reporting and risk calculation for the desk, working closely with FO, MR Coverage, QR and MR Tech.
  • Reconciling and owning inputs to the Value-at-Risk (VaR) calculations of the firm, supporting the on-boarding of this process on to a strategic system platform.
  • Provide ad hoc reports driven by Front Office, Market Risk and Business Management
  • Support the Month End Reporting responsibilities of the team, such as liaising with Financial Control to review any differences between the P&L Aggregator and the GL, review of reserve adjustments, analysis of IBT and other month end charges.

  • Review the key control metrics and monitor the current control issues ensuring they are effectively escalated and mitigated.
  • Pro-actively identify the control risks and manage the subsequent project plans to achieve resolution.
  • Ensure the integrity of the business financial results are maintained under US and local regulatory requirements
Qualifications and Experience Required:

  • Strong numerate background and attention to detail
  • Two to three years of banking experience, preferably in the product control role
  • Good financial product knowledge, preferably fixed income products.
  • Ability to work effectively & meet challenging deadlines and be able to work under pressure
  • Analytical and quantitative aptitude. Ability to identify and solve problem.
  • Team player with ability in managing daily processes and interacting with the business
  • Strong interpersonal skills and good communication skills
  • Strong technical skills (Advanced Excel, Access an advantage)
  • Proactive and willing to accept responsibility
  • Control focused
About J.P. Morgan's Corporate & Investment Bank:

J.P. Morgan's Corporate & Investment Bank is a global leader across banking, markets and investor services. The world's most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at .

JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.

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